Harmonizing Halal Industry Standards on IsDB Group Agenda

8 September 2017

<p>IsDB Regional Office, Kuala Lumpur, Malaysia, 14 August, 2017 – One of the main tasks high on the agenda of the Islamic Development Bank (IsDB) Group is to support the growth of halal industry and within it to help spearhead the “harmonization of halal industry standards” worldwide, so says Kunrat Wirasubrata, Acting Director of the IsDB Group Regional Office in Kuala Lumpur (ROKL). Based in Jeddah, Kingdom of Saudi Arabia, the AAA rated Multi-lateral Development Bank is mainly tasked with contributing to the development of the Shari’ah-based financing as well as improving the socio-economic well-being of its 57 Muslim member countries, all members of the Organization of Islamic Cooperation (OIC), in addition to Muslim communities in non-member countries. “Promoting the Islamic finance industry is one of the major strategic thrusts of the IsDB Group and harmonizing the Halal industry standards world-wide is considered a major trend as it is part and parcel of the Islamic finance industry”, asserts ROKL Acting Director, adding “in general, Islamic finance is also about funding manufacturing, purchasing, and provision of all goods and services which bear the Halal specifications.” There is already a growing trend to harmonize the Halal industry standards in various Muslim countries. Earlier in 2017, IsDB Group funded the launching of “MABIMS Harmonisation of Halal Standards: Strengthening the Halal Industry”. The book was launched in Kuala Lumpur by Datuk Seri Dr. Ahmad Zahid Hamidi, Deputy Prime Minister of Malaysia, on 3 April. The launching ceremony marked the culmination of collaboration between IsDB Group and MABIMS, a regional consultative forum established in 1989 by Ministers responsible for Islamic Affairs in Brunei, Indonesia, Malaysia and Singapore. ROKL Acting Director, Kunrat Wirasubrata, represented the IsDB Group at the launching ceremony. Prepared by MABIMS and funded by IsDB Group, the book identifies commonalities in Halal Standards among the four MABIMS countries. It facilitates understanding of unique compliance requirements by respective MABIMS member countries, some of which involve various food and drinks ingredients, genetically modified foods (GMOs), as well as meat utilizing methods. The MABIMS member countries are aspiring that harmonized Halal Standards and a relevant mutual recognition mechanism would eventually facilitate understanding of unique compliances and lead to enhanced trade among MABIMS countries, as well as other countries and territories. Further Information about MABIMS and Malaysia’s drive for development of Halal industry is available at: www.halalcbconvention.my and on: https://www.nst.com.my/news/2017/04/227253/malaysia-develops-myihab-fir…;